Stagnito Business Information and Edgell Communications sold to PE firm, to be merged
Merger of two B2B companies was ‘driven’ by sale to private equity firm RFE Investment Partners; new company will be led by Kollin Stagnito, currently COO at Stagnito Business Information
Two B2B publishing companies, Stagnito Business Information and Edgell Communications, have announced that they will merge following a sale to the private equity firm RFE Investment Partners. The new company will continue operating under the two separate names until a new branded company emerges.
The two current CEOs, Gerry Ryerson, President & CEO at Edgell, and Harry Stagnito, President & CEO at Stagnate, will step aside and the new company will be headed by Kollin Stagnito.
The B2B industry has been pretty much funded, and torn apart, by private equity investment firms. Companies such as Cygnus Business Information don’t even exist anymore, their assets sold off. Most of the major players still in the B2B magazine field remain private equity owned, many waiting for better days in order to sell off their assets (though we all know those better days will never return).
The new Stagnate-Edgell company will have quite a number of familiar B2B magazine brands including Progressive Grocer, Convenience Store News, The Gourmet Retailer, Apparel Magazine and Hospitality Technology – well over 30 brands.
Here is this afternoon’s merger announcement:
Deerfield, Illinois – February 17, 2016 — Stagnito Business Information and Edgell Communications announced today that the two companies have merged. The combined assets and brands make it the most comprehensive b-to-b information, media, and marketing resource serving retailers and their supplier/distributor partners in the North American grocery, convenience, big-box retail, specialty/apparel, hospitality, and pharmacy markets.
The company will operate under the Stagnito Business Information and Edgell Communications names in the short term, with a new corporate brand to be announced in the future.
Gerry Ryerson, President & CEO at Edgell, and Harry Stagnito, President & CEO at Stagnito, are handing over the reins to Kollin Stagnito, COO at Stagnito, who will take over as CEO of the combined company. Ryerson is retiring and Harry Stagnate is taking a seat on the newly formed board of directors.
The merger was driven by private equity investor RFE Investment Partners. Their participation will allow Stagnito and Edgell to develop more powerful products and services for its audience and customers, through future acquisitions as well as organic growth.
RFE also helped facilitate the formation of the new board, attracting executives with a wealth of media, b-to-b communications, and retail industry experience. In addition to Mr. Stagnito, board members include Alan Glass, former Chairman, President & CEO at Commonwealth Business Media and Jim Casella, former Chairman & CEO at Asset International and Vice Chairman at Reed Business Information. Mr. Glass will be the new company’s Executive Chairman, with Kollin Stagnito reporting to him.
Further information on RFE can be found at http://rfeip.com/.
Stagnito and Edgell brands that focus on vertical markets in the U.S. include Progressive Grocer, Convenience Store News, Hospitality Technology, MURTEC conference, The Gourmet Retailer, and Apparel. Horizontally focused brands serving all retail markets include RIS News, Consumer Goods Technology, Retail Leader, Store Brands, Multicultural Retail 360 Summit, and Carbonview Research.
Brands focused on vertical markets in Canada include Your Convenience Manager, Convenience Central, The Convenience U CARWACS Shows, and Pharmacy Business.
Kollin Stagnito expressed his positive outlook for the merger, stating, “We are well on the way to creating the definitive Retail Business Intelligence resource for retailers, retail suppliers, and technology vendors.”
Stagnito goes on to say, “The combined companies will inform, connect, and provide predictive analysis for retailers, retail suppliers, and technology vendors through custom and syndicated research, data, media, and events. Customers will have access to business intelligence throughout the retail product lifecycle—from initial consumer interest to final shopper satisfaction—including product creation, marketing, and distribution; category management; retail merchandising; and point of sale.”
“Other media, research, and data companies provide parts of this solution today, but no company has connected the dots to allow those involved in retail to find solutions to all their challenges in one place,” he concludes.
JEGI, a leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, represented Stagnito and Edgell in the pre-packaged merger and sale to RFE.